China Southern reports $208 million first-quarter profit

China Southern Airlines reported first-quarter net income of CNY1.42 billion ($208.3 million), a more-than-sixfold increase over a CNY222.2 million profit in the year-ago quarter, on a 30.5% jump in revenue to CNY16.87 billion.

It cited domestic market recovery as the key driver of the revenue improvement. Operating expenses climbed 20.5% to CNY16.51 billion.

China Southern Airlines reported first-quarter net income of CNY1.42 billion ($208.3 million), a more-than-sixfold increase over a CNY222.2 million profit in the year-ago quarter, on a 30.5% jump in revenue to CNY16.87 billion.
It cited domestic market recovery as the key driver of the revenue improvement. Operating expenses climbed 20.5% to CNY16.51 billion.
Profitability was buttressed by a sizeable "investment gain" mainly attributable to the sale of its 50% stake in MTU ...

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